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  5. Stocks to watch, January 31: ONGC, Nestle, Vedanta, L&T, Biocon, Tata Consumer and more

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Stocks to watch, January 31: ONGC, Nestle, Vedanta, L&T, Biocon, Tata Consumer and more

Upstox
By Upstox News Desk

5 min read | Updated on January 31, 2025, 08:45 IST

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SUMMARY

Larsen and Toubro (L&T) on Thursday reported an 14% year-on-year rise in its consolidated net profit for the third quarter ended December (Q3FY25) to ₹3,358.84 crore

Stock list

BANKBARODA
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Over 130 listed firms will declare their results for the third quarter on Friday. | Image: nseindia.com

Over 130 listed firms will declare their results for the third quarter on Friday. | Image: nseindia.com

Stocks to watch: Indian benchmark indices are expected to open positively ahead of the important Union Budget session on Saturday.

The GIFT NIFTY futures were trading at 23,436, up 0.06 this morning.

India on Friday will announce its economy survey ahead of the Union budget on February 1.

On the global front, the US indices ended the Thursday's session on a positive note as investors digested earnings of megacap technology stocks. The Japanese indices traded in the green on Friday morning. The Chinese and Hong Kong markets remained closed on account of the prolonged holiday for the Chinese New Year.

Here is a list of stocks that will remain in focus on Friday.
Earnings today: Over 130 listed firms will declare their results for the third quarter on Friday. They include Oil and Natural Gas Corporation, Vedanta, Nestle, Sun Pharmaceutical Industries, Punjab National Bank, Marico, Bandhan Bank, Inox Wind and Texmaco Rail & Engineering.

Private sector lender IndusInd Bank, LIC Housing Finance, Poonawalla Fincorp, Aster DM Healthcare, City Union Bank, Cholamandalam Investment and Finance Company, Karnataka Bank, Aptus Value Housing Finance India and Equitas Small Finance Bank among others will also release their earnings on Friday.

L&T: Larsen and Toubro (L&T) on Thursday reported an 14% year-on-year rise in its consolidated net profit (attributable to owners of the company) for the third quarter ended December (Q3FY25) to ₹3,358.84 crore. The company had reported a profit of ₹2,947.36 crore in the year-ago period. Sequentially, the consolidated net profit was down 1.07%. L&T shares ended nearly 1% down at ₹3,419.80 apiece on BSE.

Its consolidated revenue from operations stood at ₹64,667.78 crores during the quarter from ₹55,127.82 crore in Q3FY24, a YoY rise of 17.3%. Sequentially, the revenue was up by 5.1%.

Also read: Stock market today: Key things to know before the opening bell on January 31
Shree Cement: India's Shree Cement reported a slump third-quarter profit on Thursday, hurt by weak prices and a slowdown in activity in a seasonally weak period. The company's consolidated net profit plunged 72.5% to ₹193 crore in the quarter ended December 31.

Total revenue from operations dropped 12% to ₹4,573 crore.

Tata Consumer: FMCG maker Tata Consumer Products consolidated net profit remained flat at ₹278 crore for Q3FY25 on higher expenses and input costs though revenue rose 16.82% on good volumes in the beverages segment.

The company reported a group EBITDA margin of 13% during the quarter. In the domestic business, the company’s beverages registered a 9% growth while the food business revenue grew by 31%. The total revenue from operations saw a 5.43% increase at ₹4,214 crore reported in Q2.

Bank of Baroda: Public sector lender’s net profit rose by 5.6% YoY to ₹4,837 crore during the Q3FY25, driven by robust growth in non-interest income covering fees, commissions and treasury.

Sequentially, Bank of Baroda’s net profit declined by 7.6% from ₹5,238 crore in Q2FY25. Net interest income (NII) of the bank grew marginally by 2.8% YoY to ₹11,417 crore in Q3FY25, compared to ₹11,101 crore in Q3FY24. Its net interest margin (NIM) moderated to 2.94% during the reporting quarter, down from 3.1% in Q3FY24.

Jindal Steel and Power: The metals major reported a 51% fall YoY in its consolidated net profit for Q3FY25 at around ₹951 crore, even as revenues inched slightly up, and both production and sales increased during the quarter.

Jindal Steel & Power Ltd’s (JSPL) consolidated revenue rose slightly YoY to around ₹11,751 crore, while the adjusted EBITDA declined by nearly 24% YoY to ₹2,133 crore. Steel production for the quarter was 1.99 million tonne, up by 2.5% on-year, while sales increased by 5% over the same period to 1.90 million tonne, the company said in a press release.

JSW Steel: JSW Steel on Thursday had informed the stock exchanges that it has successfully completed the acquisition of Thyssenkrupp Electrical Steel India Private Limited (tkES India) through its wholly owned subsidiary, Jsquare Electrical Steel Nashik Private Limited. The deal, finalised on January 30, follows an earlier share purchase agreement announced on October 18, 2024.

In addition to acquiring tkES India, JSW Steel has also secured agreements with Thyssenkrupp group entities for the licensing and transfer of key technologies.

Also read: Q3 results: ONGC, Nestle, PNB, Sun Pharma, Vedanta among companies to post earnings on Jan 31; check list
Biocon: Bengaluru-based biopharma firm on Thursday reported a consolidated net profit of ₹25.1 crore in the December quarter of the financial year 2024-25. During the same period in the previous financial year, the company reported a loss of ₹16 crore.

Biocon reported Q3FY25 operating revenue of ₹3,821 crore, driven by sustained double-digit growth of 14% in biosimilars. The firm’s EBIT amounted to ₹787 crore, reflecting a 20% margin.

Torrent Power: The company on Thursday informed the stock exchanges that it has commissioned a 300 MW solar power plant through its wholly owned subsidiary, Torrent Saurya Urja 2 Private Limited (TSU2). The plant, certified by the Gujarat Energy Development Agency, became fully operational on December 15, 2024.

Torrent Power acquired the official certificate on January 24, 2025, as per the exchange filing.

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